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  • #10,781
  • Jun 5, 2008 8:28am Jun 5, 2008 8:28am
it was all calclulated to the pip > strong resistance plus 38.2 fib retrace. Still I have another buy order at 1.5300. If we dont get there , then there is good probability for price to go for 1.5800.
  • #10,782
  • Jun 5, 2008 8:37am Jun 5, 2008 8:37am
Great job Greenhaze! 1.58 is a great target. I would even hold on to something for a potential move to 1.6.

Quoting Greenhaze
it was all calclulated to the pip > strong resistance plus 38.2 fib retrace. Still I have another buy order at 1.5300. If we dont get there , then there is good probability for price to go for 1.5800.
  • #10,783
  • Jun 5, 2008 8:38am Jun 5, 2008 8:38am
And now, what is the possibility to see 1.53 again, after Trichet comments!
If crosses 1.5540 we go for higher prices.
Damn, Thank you Mr. Trichet!
Damn day for me, I kept my short trades too much time opened.
1.5540 a strong resistance : - Touched upper trendline - H4 and Daily Ema50 touched, very strange this move!
  • #10,784
  • Jun 5, 2008 8:42am Jun 5, 2008 8:42am
Quoting JasonGuillen
I have decided to Long, let me tell you what my rationale is.

I want it to bounce back to 1.6, so I can be rich.
Isn't that enough??
Long for the win!!!
  • #10,785
  • Jun 5, 2008 8:44am Jun 5, 2008 8:44am
done for today +243 pips
good luck all see u tomorrow
  • #10,786
  • Jun 5, 2008 8:48am Jun 5, 2008 8:48am
Strewth. Where did that lot come from? My doubtful long is +150, so I have locked in 100 and will let it run.

Next big resistance is the Weekly pivot at 1.5612.

  • #10,787
  • Jun 5, 2008 8:59am Jun 5, 2008 8:59am
waiting for 1.56 area to short
  • #10,788
  • Jun 5, 2008 9:01am Jun 5, 2008 9:01am
God bless Trichet

Thanks Jean Claude
  • #10,789
  • Jun 5, 2008 9:04am Jun 5, 2008 9:04am
Quoting Srikanth
waiting for 1.56 area to short
  • #10,790
  • Jun 5, 2008 9:04am Jun 5, 2008 9:04am
i took short now...
  • #10,791
  • Jun 5, 2008 9:07am Jun 5, 2008 9:07am
Quoting Srikanth
waiting for 1.56 area to short

i dont think so
short is not a good idea now but we will stop on 600 area and enter a range period
well good luck
  • #10,792
  • Jun 5, 2008 9:13am Jun 5, 2008 9:13am
what caused it to bounce ???
  • #10,793
  • Jun 5, 2008 9:16am Jun 5, 2008 9:16am
Buyers caused it. Not news buyers
  • #10,794
  • Jun 5, 2008 9:17am Jun 5, 2008 9:17am
chart 1 - weekly
chart 2 - daily
chart 3 - H4

FxChi... Greer didn't win.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: analysis.gif Size: 19 KB
Click to Enlarge Name: analysis2.gif Size: 25 KB
Click to Enlarge Name: analysis3.gif Size: 22 KB
  • #10,795
  • Edited 10:09am Jun 5, 2008 9:18am | Edited 10:09am
I know that my range of 1.5782/1.5378 was hit so now it is time to go long, but this rally was done only because Trichet comments.

Well, but it is comments like this one that moves the market.
Price just went where I predicted to go before a new down move.

Today I lost 2 Short trades -120 pips!
I keep one short trade and I am going to short again if we see today a new up move of about 30 pips.
I have my head ready to blow!!
Tomorrow will be a very important day!
  • #10,796
  • Jun 5, 2008 10:13am Jun 5, 2008 10:13am
I belive more confirmation is needed to go short at this point. Anyone still holding their longs from last nights bounce?
  • #10,797
  • Jun 5, 2008 10:16am Jun 5, 2008 10:16am
I'm long at 1.5500, debating if I should add more to this.
  • #10,798
  • Jun 5, 2008 10:24am Jun 5, 2008 10:24am
Quoting g_roussev
Euro will go down hard!
Uh...how did you come to this conclusion? For your sake, I hope you didn't short when you posted that comment.

I just closed out the majority of my long positions at 1.555. Picked most of them up in the 1.550 to 1.540 range, so I'm satisfied. Will slowly close out more if it keeps going up and possibly start my shorts above 1.560.

GL, all!
  • #10,799
  • Jun 5, 2008 10:32am Jun 5, 2008 10:32am
Quoting steelhead
The spike happened cause buyers came into the market, not because of some lame news. The big boys want you to think it is because of that. This was a setup from the bigboys to get you on the wrongside (shorts) of the market. Hook line and sinker
Why do you think the buyers came into the market ?? It was because of trichet talked up inflation and the possibility of a rate hike which is what the banks love to hear. You seen it the other day when bernake did the same.

Your right in one way though, they tripped a lot of stops once they got the ball rollin and caught a lot of people out. Thats why they should of been watching the broadcast and changed their trade plan.
  • #10,800
  • Jun 5, 2008 10:37am Jun 5, 2008 10:37am
Quoting g_roussev
Euro will go down hard!
It did go down hard!

It fell right on top of you and then it bounced even harder
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